Life insurance is not a legal requirement for anybody.But, these kinds of people never be without life insurance to safeguard their family during unexpected life event.
You can purchase life assurance policy depending on prevailing circumstances. These circumstances may or may not support your decision to buy life insurance coverage.
Those who are single, independent family members, with steady source of income may not need to buy life assurance policy.
However, it can be a great option for those who are having a dependent spouse, children, or parents. Here are 10 kinds of people who should never be without life assurance policy:
(1) Middle-Aged Couples
It is one of the unique kinds of people never be without life insurance policy. If you are newly married or just married couples or domestic partners or about to celebrate your 20th marriage anniversary, perhaps you & your spouse have already planned a lifestyle depending on the basis of certain income level.
It is essential to buy life insurance plan to support your current lifestyle even in the absence of financial support from your loved one due to his/her premature death.
Life insurance holds significance even in situations when both partners are employed & earning handsome amount of income to maintain current lifestyle.
In case of premature death of a partner then another partner or spouse may often want to take an extended break from working life. Life assurance policy can provide assistance in such changing situations to grieve or readjust to new life circumstances.
Image Source: Shutterstock